Tajikstan: Strengthening judicial training

Training

The EBRD is helping to train more than 200 judges in Tajikistan in key areas of business law as part of its Commercial Law Judicial Training Project. This is a topic that concerns the whole country, yet the problems facing judges and businesses in remote areas can differ greatly from those arising in the main cities.

That is why in 2013 the Bank sponsored a conference on commercial law reform in the least developed region of the country, the Gorno-Badakhshan Autonomous Oblast (GBAO).

The main objective of the conference in Khorog, the regional capital, was one of inclusion – to ensure the involvement of the GBAO in the national discussion about commercial law reform. The event was attended by the head of the regional government, representatives from the Presidential Administration, local business leaders, bankers, judges and lawyers. It was organised by the Council of Justice and the Judicial Training Centre of Tajikistan, the EBRD Legal Transition team’s counterparts in its judicial training project.

Many of the judges at the conference had undergone the training and spoke about how their increased knowledge had helped them in their work, especially in ruling on land law disputes. In the past two years, the Bank has supported similar conferences in the Tajik capital Dushanbe and in the northern city of Khujand.

Mongolia: Maintaining biodiversity

Legislation

The EBRD is the largest foreign investor in Mongolia. It works with the country’s authorities and investors to develop an open, transparent market economy while caring for and managing Mongolia’s environmental and socio-economic resources. For example, the Bank is carrying out technical assistance work to help the Mongolian authorities with an initiative to maintain biodiversity and conserve the unique environment of the Southern Gobi.

Another aspect of the EBRD’s technical cooperation comes in the form of support for the implementation of the Extractive Industries Transparency Initiative (EITI), a global fiscal transparency standard for the sector. Mongolia is seen as a leading EITI country. With the Bank’s support, it has the potential to continue to lead global good practice in EITI implementation and broader transparency.

Among the tasks of the EBRD’s Legal Transition Team are the preparation of an EITI law and elaboration of an institutional framework to sustain the initiative; training; communications and public outreach; as well as the establishment of an online electronic reporting system. The Bank’s backing in these areas provides the Mongolian government and civil society with key tools for the implementation of a framework for open, transparent, accountable and environmentally sensitive extraction, benefiting all citizens.

Russia: Modernising corporate governance

Legislation

In 2013, the EBRD helped the Bank of Russia Financial Markets Service modernise the Russian Corporate Governance Code, which was last updated in 2002. These efforts culminated with EBRD President Suma Chakrabarti attending a corporate governance roundtable event in Moscow in October, during which he pledged EBRD assistance with implementation of the new code.

There are high expectations for the code’s potential to improve the protection of minority shareholders in Russian companies, including of course the EBRD. Implementation is expected to begin in 2014. The focus is now on finding the right mechanisms to ensure this is done properly.

The EBRD’s Legal Transition Team intends to continue supporting the Russian authorities in this endeavour.

In Numbers

EBRD annual Bank investment by sector, 2013

Industry, commerce and agribusiness 31%

Financial institutions 28%

Energy 21%

Infrastructure 20%

The EBRD and legal reform [table class=””][attr colspan=”1″]
“The EBRD’s Legal Transition Programme (LTP) aims to improve the investment climate in the countries where it invests, by helping to develop the laws and institutions upon which a vibrant market-oriented economy depends.”[/table]
[table class=””][attr colspan=”1″]
“In other words, the programme operates as a trouble-shooter for regulatory impediments to investment. The LTP’s activities range from assisting governments with the drafting of new legislation to designing new institutions (for example, pledge registries) and training public officials and judges.” [/table]

Key facts about our work in this area [table class=””][attr colspan=”1″]
“A total of 900 judges underwent EBRD-sponsored training sessions in Bosnia and Herzegovina, Bulgaria, FYR Macedonia, Mongolia, Montenegro, Russia and Tajikistan, including 200 Mongolian and over 200 Tajik judges..”

“The EBRD began a pilot project in 2013 to help Mongolian authorities improve training for bailiffs and redesign their system for enforcing court decisions.”

“Mongolia received assistance from the EBRD to implement the Extractive Industries Transparency Initiative (EITI), which aims to encourage transparent financial practices in the mining sector.”

About this report

The EBRD’s Annual Report 2013 provides a comprehensive overview of our activities and achievements in the countries where we invest.

The report demonstrates that, amid economic turbulence and the deterioration of economies, the EBRD remains a strong, resilient and trusted partner.

It describes the transition impact of the Bank’s investments, projects and policy work, highlights its innovation in key sectors and geographical initiatives, and shows how the EBRD continues to promote sustainable growth and recovery.

Who we are

The EBRD is investing in changing people’s lives and environments across a region that stretches from central Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean.

Working together with the private sector, we invest in projects, engage in policy dialogue and provide technical advice that fosters innovation and builds sustainable and open-market economies.

What we do

We provide funds for well-structured, financially robust projects of all sizes (including many small businesses), both directly and through financial intermediaries such as local banks and investment funds. The Bank works mainly with private sector clients, but also finances municipal entities and publicly owned companies.

Our principal financing instruments are loans, equity investments and guarantees. We maintain close policy dialogue with governments, authorities, international financial institutions, and representatives of civil society, and provide targeted technical assistance using funds donated by member governments and institutions.